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Finance

Indian tax laws are terrorising: Rafale Engine Manufacturers claims!!

On Wednesday, CEO of Safran Aircraft Engines (SAE), Rafale fighter jet’s engine manufacturer announced that the company wants to invest US$ 150 million in India however India must provide them with  favourable business atmosphere and not ‘terrorise’ with the tax and custom rules.

The company manufactures the M88 ultra-modern engines that powers the Rafale jets which are procured by India, Rajnath Singh took a tour of their assembly line in Paris, during this tour and presentation Olivier Andries, CEO of SAE expressed his interest of investing US$ 150 million towards maintenance and training in the country. 

Andries asked for more support on tax relaxation in India, he added, ‘India is set to become the third-largest commercial market for aviation and we are keen to create a strong maintenance and repair base in India to serve customers, but we need to make sure that the Indian tax and customs system is not terrorising us’.

Rajnath Singh assured him that India is committed to providing the ‘right climate’ for any investment made under PM’s ‘Make in India’ initiative that was launched in 2014. He also extended an invitation to the firm to come down to Lucknow in February 2020 for the DefExpo. Andries accepted the invitation, Safran deals in designing and development of engines used in both military and civil aircraft.

Rajnath Singh took a tour of the facility in Villaroche in Reau, near Paris where all 36 of Rafale jet’s M88 engines will be assembled.

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xploringindia
Xploringindia is a administrator who has a keen interest in politics, fashion, and lifestyle. She is a post-graduate in Economics and loves to listen to classic old Hindi songs and travel to new places in her leisure time. Her writing is well researched, covering important aspects and core of the topic covering crucial points.
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